Vroom and gloom: Vancouver to see another jump in gas prices tomorrow

Vancouver drivers saw a significant spike in gas prices today, and the pain at the pump is set to continue, with another jump predicted for tomorrow by Gas Wizard.

Prices jumped to $203.9 Wednesday from $194.9 on Tuesday. On Thursday, prices are expected to jump another five cents to $208.9.

There are a few potential reasons why gas prices are suddenly increasing on the West Coast, and while supply issues are partly to blame, it’s not the only factor analysts are pointing to.

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Dan McTeague, president of Canadians for Affordable Energy, informed Daily Hive that the primary reason for the increase in gas prices is tight fuel supplies on the US West Coast.

According to McTeague, tight fuel supplies, coupled with low refinery output, “has strained gasoline availability.”

McTeague also suggests some added issues at the Phillips 66 Ferndale refinery, which are related to maintenance, paints a better picture of why prices at the pump have risen. McTeague said yesterday that gas prices in Vancouver could jump even further, and we’ll see if that goes past the expected spike tomorrow.

Looking at the historical data for gas prices over the past six months, we see that they haven’t been this high since early July when they also reached $208.9.

Gas Buddy

Prices are still far off from the record-breaking levels they reached in June (over $2.3 per litre); only time will tell if prices continue to rise.

So will you park the car and take transit for the rest of the week? Let us know in the comments.